Blue Mountain Renewables Jamaica Wind Ltd (BMR) has received financing of $62.7m for the construction of 36.3MW wind farm, which would be the largest farm developed by a private company in Jamaica.
The wind farm will be located about 90km from Kingston, reports Renewable Energy Magazine.
Of the $62.7m, $42.7 million is a senior loan from Overseas Private Investment Corporation (OPIC), $10m is a senior loan from IFC and another $10m loan is from the IFC-Canada Climate Change Program.
Under a 20-year power purchase agreement, the wind facility will sell power to the Jamaica Public Service Company.
The plant is expected to become operational in the first half of 2016.
Once it becomes operational, it would be the second major wind project on the island, after the Wigton Wind Farm, which commenced operation in 2004.